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Teddy Sagi profits from acquisition of Austrian Conwert Immobilient for €1.7 billion

Sagi bought a 25 percent stake15 months ago in real estate company Conwert which has been acquired by Vonovia

Teddy Sagi
Vonovia SE, a German real estate company, has acquired Austrian company Conwert Immobilient Invest SE for €1.7 billion. Israeli billionair Teddy Sagi has a 24.79% shares in Comwert, which he acquired 15 months ago, in May 2015, for €300 million.

In the planned deal Vonovia is offering 74 shares in exchange for 149 Conwert shares or in other words €17.58 for each Conwert share, a 9% premium on the current market price.

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